From Chart of the Day:
For some perspective on the long-term performance of the stock market, today's chart presents the Dow priced in another global currency -- gold (i.e. the Dow / gold ratio). For example, it currently takes less than a mere 8.5 ounces of gold to 'buy the Dow' which is considerably less than the 44.8 ounces it took back in 1999. Priced in gold, the Dow has been in a massive 13-year bear market. The Dow priced in gold paints an entirely different picture than that of the Dow based on the US dollar (which continues to trade near post-financial crisis rally highs). On a positive note, the Dow priced in gold has just broken above resistance of its latest downtrend channel.